PREDICTION OF CORPORATE GOVERNANCE-PERFORMANCE RELATIONSHIP WITH A DYNAMIC MODEL
Journal Title: Muhasebe ve Vergi Uygulamaları Dergisi - Year 2017, Vol 10, Issue 1
Abstract
The objective of this study is to examine whether there is a relationship between the performances and corporate governance levels of companies traded in corporate governance index between 2007 and 2015 in Turkey, which is an emerging market. Different from the previous studies conducted in Turkey, the analysis is conducted with a dynamic method, the System Generalized Moments Method (system GMM). Furthermore, the analysis covered a long sampling period from the date when corporate governance is started to be calculated until today (2007 – 2015). Analysis results demonstrated that there is a positive and statistically significant relationship between corporate governance scores and accounting-based ROA and market-based Tobin’s Q ratios.
Authors and Affiliations
Değer ALPER, Ebru AYDOĞAN
Keywords
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